Cheers have erupted at Labor's election party, with the party set to rule Victoria for a third term.
ABC election analyst Antony Green said the coalition had no path to victory after calling at least 46 seats for Labor.
"The Andrews government is set to be returned," he said.
The prediction drew cheers from Labor supporters gathered at the party's election night party within his seat of Mulgrave in Melbourne's southeast.
Former premier Steve Bracks said swings towards Labor in the southeast and the east, holding regional seats and possibly winning Ripon pointed to a majority government for Labor.
"I can call it, I think it's impossible for the Liberals to win. I think it's almost certainly a majority Labor government," he said on the Seven Network.
Mr Andrews is poised to become the state's fifth leader in history to serve 3000 days in office.
He is expected to address Labor faithful late on Saturday night.
Earlier, Mr Andrews made his only public appearance on election day at a level crossing removal site in the city's southeast after he pre-polled on Thursday.
He shook hands with construction workers, with his youngest son Joseph by his side after doing the rounds on breakfast TV in a last-ditch bid to shore up support.
"If you don't have a job, cost of living is really challenging and my political opponents are going to cut jobs because they're going to cut projects," he told Seven.
A Newspoll published on Friday night showed Labor on track to return despite a swing of almost three per cent.
Labor leads the coalition 54.5 per cent to 45.5 per cent on a two-party preferred basis, according to the poll published by The Australian.
Treasurer Tim Pallas told Seven on Saturday night voters had a clear choice.
"One is the conservatives who pretend they've got a fiscally responsible strategy and then spend $28 billion of election commitments and the other is the Labor approach - positive but targeted commitments," he said.
In an early blow for Labor incumbent Chris Brayne looked to lose his seat of Nepean to former tennis player and Liberal candidate Sam Groth, who claimed the seat early on Saturday night.
Australian Associated Press